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You misspelled idiots
Huge explosion is Beirut
https://twitter.com/borzou/status/1290675854767513600?s=21
Smart..
Possibly- I just don’t like the risk: reward here. Spy can easily take out yesterday’s highs for no reason at all. I’m not smart enough to play along.. would be more like gambling.. for me at least
Yea.. if I’m day trading I tend to do the same.
I’m not playing spy here. I had a plan at the open.. didn’t pan out so I passed. Too many other names to make money in.
Possibly not... SPX didn’t open below my level of 3285, so I took no action.
I’m okay with that. I’m no bear... as you know Harley.
I’m feeling since it opened above said pivot that 3310 is more likely this week.
Because I’m not watching markets all day this summer. I’ve been riding long positions since March.. almost exclusively , but every once in a while I see a level I either sell some calls against or buy some puts.
Just how I do things.. by no means advice.
Okay folks... might dip my toe in for a scalp.
If SPX opens 3285 or below, I’ll be targeting a trip down to 3245 and I’ll be a 8/7 SPY 325 put buyer for a scalp.
I often use SPX as my bellwether for trend changes. I’m not here to sell this as the way to go, but it’s just how I do things.
Happy trades y’all. Stay nimble.
Bears still taking punches to the face. I hope no one here has been front running the swing lower. Next 100 SPX points can easily be higher.
Lol... just wait for them to sign that next stimulus and we’ll have a nice week or two of put riding.
When they pass the next stimulus bill I think it will be a sell the news event. Violent , but brief... two weeks or so.
Just one man’s $.02
Just here to read all the posts about rigged markets and puts that should have paid
Nice trade !
Bought some 326p this morning at 1.49 and closed them here at 2.87.
Still holding the calls.. for what they’re worth. We wait and see
I’m in the juniors. Think they’ve got the most juice
Great. Can’t wait to trade that move WHEN it comes.
What’s that have to do with today’s trading action? I think your confused as to what people do here.
Gold and Silver have done me very well this year.
I don’t think or trade that far in the future.
The market is telling us where this is going. An economic recovery supported by trillions in stimulus. That’s been my thought since the crash and I’m not overthinking at this point.
This is not an environment to try and time a top imho
Sure... but this is a trading board. I’ll make many profitable trades on that move too.. WHEN it comes. Until then it’s a losing strategy to trade what you think this market should be doing
That’s pretty much how it’s worked. I’ve been saying it since SPY 250. Nothing’s changed.
I don’t like seeing this! Might have to rethink a hedge at the open
Jobless claims are +1.4m. That’s more than expected on day when the next stimulus package is being negotiated. I expect news on the stimulus front this week.
I’m holding 7/24 327c from 1.40 and will add on dips that catch support.
Happy trades today -
Just here for all the bearish posts - they never get old to read
Higher we go !
Looking squeezy eel
I’m NOT getting a vaccine developed at “warp speed” for something that for me personally has nearly no chance of hospitalizing me or making me seriously ill. Sounds like a recipe for early onset dementia. Lol
Awww.. you’re too nice amigo.
Wish I had more time to post here, but I’ve been focused on staying nimble and cashing profitable trades.
My macro view that I shared in March on COVID , stimulus and the impact of liquidity on the markets has pretty much played out.
For the smaller moves (week to week) I rely on price as well as the insights of generous posters like your self.
Stay neutral!
Bingo!
Here’s the death rate by state... the “spikes” in infection have been a fart in the wind when compared nationally.
https://www.statista.com/statistics/1109011/coronavirus-covid19-death-rates-us-by-state/
Also - look how jacked up the reporting is that overstates these issues. Florida slid the decimal point sideways on dozens of labs so they reported high 90%s vs sub 10%. Others didn’t report negative test results at all... no problem there though eh? Lol.
https://www.wtsp.com/article/news/health/coronavirus/floridas-recent-record-day-for-covid19-might-not-have-been-quite-that-high/67-81f73199-c283-4b27-8a48-389c8c5b3d9a
Everything you said sounds reasonable. I get it. I’m also of the natural mindset (get sick vs vax) and that sadly some death is part of nature. The flu vaccine according to the CDC saves about 5,700 lives if they get the algorithm right and if 150,000,000 people get the shot. That’s a ridiculously light number of lives saved imo. I mean about 10,000 people die per day from all causes.
I think the information we’ve been given hasn’t always been presented honestly. The numbers don’t make sense and it’s hard to point to any data points and today that isolation has helped. The death rate disparity from state to state is just absurd. We are talking about “spikes” in TX, FL, AZ yet the deaths in NY/NJ/MA/CT are all 500% higher. The surge in cases the past month plus also hasn’t translated to a surge in deaths. We had massive protests for weeks starting 7 weeks ago.. yet no spike in deaths? None?
When the vaccine is available will you take it and give it to your kids?
The infection, hospitalization and death rates of COVID-19 are MUCH MUCH lower than that of the flu in ages 0-17. Do you vaccinate your kids annually for the flu?
I’m not telling anyone how to feel about this virus or how to raise their kids, but the reality is that it’s just not that dangerous for those under 70 without underlying health conditions. If you read the data right on the CDC website that’s pretty clear.
https://www.cdc.gov/coronavirus/2019-ncov/covid-data/covidview/index.html
I think GOLD , SLV and BTC all out perform equities the next 12 months, but I think equities are making one last violent move higher before summer is over.
Fed can’t support the markets indefinitely, but to think their in immediate danger with the game their playing is ill-advised
Just my .02
That... that! Is what you see as a down turn? They haven’t retraced the buying of earlier in the year by even a few hundred basis point. Amazing! Something g goes from 3m more than doubles to 7m and then retraces $6.9m and that a shrinking balance sheet? - using rough numbers.
Lol... over what time period are you looking at? A few days? Their balance sheet is up. They’ve made it clear they’ll continue buying as needed. They’ve said very clearly... we will put in a floor by all means necessary.
Some food for thought on the subject...
A huge speculative break out trade was placed today on SPY. Someone made a $650K bullish bet via 24 July'20 $340 calls expecting SPY to go up at least 8% in the next 2 weeks.
If SPY lands at $347 by expiration, the trade will generate 5000% and $33m in profit.
Maybe, but the fed will ramp up buying. This year and next will be all about liquidity. The fed hasn’t minced words with their position. They can keep this house of cards in the air a while longer
Yet you seem a bit obsessed with him. You’re a trader...you’re supposed to filter out the noise, no?
Ok... gap n go is on the table!